At the beginning of the film when Quick Mike (David Mucci) cuts up Delilah Fitzgerald (Anna Levine), Skinny Dubois (Anthony James) holds a Colt 1860 Army to his head in order to stop his assault.
Colt Walker
Though not seen in the film, the Colt Walker is mentioned when Little Bill (Gene Hackman) tells Beauchamp (Saul Rubinek) the true story of a famous gunfight between English Bob (Richard Harris) and a cowboy named Corky "Two-Gun" Corcoran. Bob missed twice, because he was drunk, while Corky hastily fired one round and shot his own toe off, then aimed his second shot carefully, but his Colt Walker "blew up in his hand, which was a failing common to that model." This is a true statement, as the cylinder walls of the Colt Walker were thinner than other models to accomodate the large .44 caliber balls and powder. An over-generous loading of powder could lead to a "chain fire", in which all of the chambers fire at once when a cylinder wall breaks.
Little Bill also jokingly mentions that Corky was nicknamed "Two-Gun" Corcoran not because he carried two pistols, but because his generous endowment was longer than his Colt Walker's barrel.
Several characters in the film are seen using Single Action Army revolvers, including Sheriff Bill Daggett (Gene Hackman) and English Bob (Richard Harris). In one of the more notable scenes, Little Bill gives Bob's biographer, W.W. Beauchamp (Saul Rubinek) , a loaded Peacemaker and claims all he has to do is shoot him and he can bust Bob out of jail. Both afraid and inexperienced, Beauchamp decides to give the gun to Bob instead. Bob declines, which proves to be a smart choice because Bill had the gun loaded with the next chamber empty.
Smith & Wesson Schofield Model 3
The Schofield Kid (Jaimz Woolvett) carries a Smith & Wesson Schofield Model 3 throughout the film. After he kills Quick Mike (David Mucci), he gives the gun to Will, claiming he doesn't want to kill anyone else. Will then uses it when he takes on all the deputies in the whorehouse at the film's end.
Starr 1858 Army
William Munny (Clint Eastwood) takes out a Starr 1858 Army percussion revolver from its case where it had been stored away for many years when joining The Kid on his manhunt. He tries to shoot a can on a wooden post for target practice, only to find that his aim was lost with his age.
Webley Bulldog
English Bob (Richard Harris) keeps a Webley Bulldog in a shoulder holster as a backup gun for self defense. Little Bill (Gene Hackman) forces Bob to surrender this pistol before beating him for talking about the Queen on Independence Day.
Rifles
Spencer 1860 Saddle Ring Carbine
Ned Logan (Morgan Freeman) uses a Spencer 1860 Carbine as his weapon in the film, and claims he has and still can shoot a flying bird in the eye. He later gives it to William Munny (Clint Eastwood) to shoot one of the outlaws when he can't. After Ned is killed by Sheriff Bill Daggett (Gene Hackman), Will grabs the rifle and uses it to finish off Little Bill.
Winchester 1866 "Yellow Boy" (mocked up as Henry 1860)
It is not a mocked up Yellowboy, it is a Winchester Transition model.
The 1866 Winchester Transition Model is made by Uberti for Taylors Firearms. This rifle is also used in the movie Silverado. In Siverado, Danny Glover erroneously refers to his rifle as a Henry while Glover's father in the movie actually uses a 1860 Henry (also sold by Taylors) with engraved receiver.
Winchester 1892
Despite how anachronistic it is (since the film takes place in 1881), several deputies are seen armed with Winchester 1892 rifle. The Schofield Kid (Jaimz Woolvett) is also seen with a '92 rifle and uses it to shoot at Will and Ned before they reveal who they are. Due to his poor eyesight, the kid fires the gun all over the place and Ned asks to check the rifle to see if it is bent.
William Munny uses a 10 Gauge Double Barreled shotgun with most of the finish worn off as his long arm in the film. He most notably uses it at the end to shoot Skinny Dubois (Anthony James) in his saloon for displaying Ned's dead body outside. He attempts to shoot Little Bill with the gun, but it misfires, likely from getting wet in the rain, so he throws it at Bill, giving him enough time to draw his Schofield.